Specialised Investment Funds (SIF) are a category SEBI introduced in 2025. They are run by mutual fund houses that meet SEBI's eligibility conditions, but they can follow strategies a regular mutual fund cannot, such as taking limited short positions through derivatives or running long-short equity and debt approaches.
The minimum investment is ₹10 lakh per investor, counted across all SIF strategies of one fund house. That places SIF between regular mutual funds and PMS. We offer SIF strategies available where we are empanelled, and because the category is new, we take extra time to explain how each strategy is meant to behave in rising and falling markets.
Who it suits
- Experienced mutual fund investors
- Those with ₹10 lakh or more to allocate
- Investors open to newer, complex strategies
- A satellite holding, not a core one
How SIF works
- 1
Read the strategy document
Each SIF strategy has an investment strategy information document that explains what it can and cannot do.
- 2
Check fit with your portfolio
We look at your existing mutual funds and goals to see whether a SIF adds anything useful.
- 3
Invest ₹10 lakh or more
You invest at least ₹10 lakh across SIF strategies of that fund house, after completing KYC.
- 4
Track and review
You receive statements like a mutual fund, and we review the strategy's behaviour with you over time.
Why families choose it
Wider strategy options
SIFs can use approaches such as long-short equity that are not allowed in regular mutual funds.
Lower entry than PMS
The ₹10 lakh minimum is well below the ₹50 lakh needed for PMS.
Mutual fund framework
SIFs are run by fund houses under SEBI's mutual fund regulations, with familiar reporting and custody.
Pooled structure
You hold units, so trades inside the fund are not taxed in your hands each time.
Things to know, and risks
- SIF is a new category, so there is little track record to judge how strategies behave across market cycles.
- Derivative and short positions can lead to losses if the fund manager's view turns out wrong.
- Some strategies may offer redemption only at set intervals rather than daily.
- Costs and complexity are generally higher than a plain equity or debt mutual fund.
Tax treatment
SIF units are generally expected to be taxed like mutual fund units, depending on whether the strategy is equity-oriented or not. For equity-oriented funds, current rules tax STCG at 20% and LTCG at 12.5% on gains above ₹1.25 lakh a year after 12 months. Because the category is new, tax treatment may be clarified further, so confirm with your tax professional.
For families in Tirupati
Many investors in Tirupati already run SIPs in several mutual funds and hear about SIF through news or relatives in bigger cities. Our view is simple: a new category deserves a careful first look. We sit with you, read the strategy document together in plain language and check whether a SIF genuinely adds something to what you already own before any money moves.
Run the numbers
Lumpsum Calculator
Received a bonus, a maturity amount from an old policy or proceeds from a property sale? This calculator shows what a single investment may grow to if it compounds once a year at the rate you assume. It is useful for comparing time periods and for seeing how much difference a few extra years can make.
Frequently asked questions
What is a Specialised Investment Fund (SIF)?
A SIF is a SEBI-regulated fund category introduced in 2025 that lets eligible mutual fund houses run more flexible strategies. These can include limited short positions through derivatives, which regular mutual funds cannot take. It sits between mutual funds and PMS in both minimum ticket size and complexity.
What is the minimum investment in a SIF?
The minimum investment in a SIF is ₹10 lakh per investor. This is counted across all SIF strategies offered by a single fund house, so you can split it between strategies of the same house. Accredited investors may be treated differently under SEBI rules.
How is SIF different from a mutual fund?
A SIF can follow strategies a mutual fund cannot, such as long-short equity, and needs a ₹10 lakh minimum instead of a few hundred rupees. Both are run by fund houses under SEBI regulations, but SIF strategies are more complex and suited to investors who understand the added risks.
Is SIF better than PMS?
Neither is better in general; they suit different needs. SIF has a lower ₹10 lakh minimum and a pooled structure, while PMS starts at ₹50 lakh and holds shares directly in your demat account. The right choice depends on your amount, tax situation and comfort with the strategy.
Can I withdraw from a SIF anytime?
Not always. Depending on the strategy, a SIF may allow daily redemptions or only at set intervals, such as weekly or monthly. The redemption terms are stated in each strategy's documents, and we go through them with you before you invest.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully. This page is for general information and is not a recommendation to buy any specific product.
Last reviewed 12 Oct 2026.